Toronto home prices in record monthly drop as sales plunge

Toronto prices drop 12% as sales plunge | Vancouver Condo Info – Toronto prices drop 12% as sales plunge. The number of sales also plunged nearly 35 per cent last month compared to Feburary 2017 – to 5,175 transactions from last year’s record 7,955, according to the latest statistics from the Toronto Real Estate Board (TREB) on Tuesday.

Home prices in Canada’s largest city posted their biggest monthly drop in at least 17 years in July and sales plunged as government efforts to cool the market and the near-collapse of a mortgage lender made buyers leery. The benchmark Toronto property price, which tracks a typical home over time, dropped 4.6% to C$773,000 ($613,000) from June.

In the last two months alone, home prices in the Greater Toronto Area have dropped 14 percent. Back in April, an average Toronto home cost $920,791 – it is now $793,915, a whopping $126,876 drop.

Homes Sales in Canada Plunge, With Greater Toronto Seeing Steep Drops. But sales in the Greater Toronto Area have seen a steep drop- 20.8% down from last year, and a 25.3% decline from April.

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WASHINGTON (Reuters) – Sales of previously owned U.S. homes took a record plunge in July. double-dip in prices yet to come, things could yet get a lot worse,” said Paul Dales, a U.S. economist at.

Toronto real estate sales may be cooling, but that didn’t stop condo prices from hitting a new high. Toronto Real Estate Board (TREB) numbers show condo prices hit a new record in May, despite slowing sales. The slowing sales are starting to become a drag on price growth, as inventory swells to a multi-month high.

Toronto home sales plunge 40% in biggest drop since the recession. That's the biggest monthly drop since records for the price index began.

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Toronto Real Estate Board says average sale price of homes sold in the GTA hit $746,218 in July, down 19 per cent from market’s peak in April. Toronto home prices plunge as buyers retreat.

Toronto Home Prices See Biggest Drop On Record As Sales Plunge 40% The average price has declined by $175,000 since its peak earlier this year.

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The oceanfront apartment was also part of six consecutive months of monthly home sales gains. with that.” Prices will drop by 10 to 15 percent in the next few years across the country, according to.